Bank Compliance Checklist

Date: September 25, 2050

I. Regulatory Compliance

Licensing and Registration

• Verify the bank's federal and state licenses.

• Confirm that all licenses are current and renewed as required.

Anti-Money Laundering (AML)

• Implement a robust AML program that includes:

• Customer due diligence (CDD) policies.

• Transaction monitoring systems.

• Reporting of suspicious activities (SARs).

• Conduct periodic training for employees on AML regulations and policies.

Know Your Customer (KYC)

• Review KYC procedures for federal and state compliance.

• Identification verification processes for new customers.

• Ongoing monitoring of customer transactions.

II. Consumer Protection

Fair Lending

• Ensure ECOA and FHA compliance.

• Review lending policies to ensure non-discriminatory practices.

• Conduct regular audits of loan files for compliance.

Truth in Lending Act (TILA)

• Ensure TILA compliance for disclosures.

• Ensure accurate APR and total cost disclosures on loan agreements.

• Confirm that all promotional materials are clear and truthful.

Privacy Regulations

• Review the bank's GLBA customer privacy policies.

• Ensure customers are informed about their privacy rights.

• Conduct regular assessments of data security measures.

III. Operational Compliance

Internal Controls

• Assess internal controls for fraud prevention and accurate reporting.

• Regularly review and update internal policies and procedures.

• Conduct independent audits to verify compliance with established controls.

Reporting Requirements

• Confirm the bank meets all regulatory reporting requirements.

• Submit Call Reports and CRA reports on time.

• Review and verify the accuracy of reported data.

Risk Management

• Assess the bank's risk management.

• Identify potential risks in operations, lending, and investments.

• Implement risk mitigation strategies and review effectiveness.

IV. Employee Training and Awareness

Compliance Training Programs

• Provide regular compliance training for all employees.

• Conduct training sessions on AML, KYC, and consumer protection laws.

• Maintain records of training completion and effectiveness.

Whistleblower Policies

• Review whistleblower policies to encourage reporting unethical behavior.

• Ensure policies are communicated effectively to all employees.

• Provide protection against retaliation for whistleblowers.

V. Signatory Section

This checklist has been prepared to ensure that [Your Company Name] adheres to all necessary compliance regulations.

[Your Name]
Company Secretary

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